21 October 2017
Register now

Santander moves to SunGard FastVal for OTC derivatives

17 February 2011  |  5049 views  |  0 Source: SunGard

Santander Private Banking S.p.A, the Italian private banking division of Santander Group, has selected SunGard's FastVal, an independent valuation service for over-the-counter (OTC) derivatives.

FastVal will help Santander Private Banking increase its operational efficiency when valuing its portfolios of non-liquid instruments. Its risk and compliance departments will use the solution to help meet the Consob requirements on the valuation of illiquid instruments and OTC derivatives.

FastVal will provide Santander Private Banking with an independent verification of valuations provided by its counterparties. The flexibility of the valuation service will help Santander Private Banking independently value non-liquid instruments, helping it to manage the increasing complexity of derivatives pricing. FastVal will also provide Santander Private Banking with transparency into its valuations, with the ability to drill down into data used in the valuation process to demonstrate how each specific valuation was determined.

Antonino Rao, IT manager at Santander Private Banking, said, "Our risk and compliance department needed a solution to help reduce operational risk and meet Consob regulatory requirements. We identified SunGard's FastVal as the most suitable pricing solution for our clients' non-liquid instruments. We selected the solution for its ease of implementation, coverage of OTC instruments and flexibility in valuing complex derivatives, which will help us remain adaptable to changes in the industry."

Gavin Lee, chief operating officer of SunGard's FastVal business unit, said, "With banks' increased focus on transparent and accurate risk management and reporting, we are seeing rising demand for independent pricing of OTC derivatives. FastVal will help Santander Private Banking gain greater clarity into the way it manages and calculates the risks associated with some of the most complex instruments in its portfolio."

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.vasco.comvisit www.atos.netvisit www.niceactimize.com

Top topics

Most viewed Most shared
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
8836 views comments | 22 tweets | 26 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8632 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7710 views comments | 9 tweets | 17 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
7186 views comments | 10 tweets | 22 linkedin
Eight banks form joint venture to launch blockchain trade platformEight banks form joint venture to launch b...
6790 views comments | 14 tweets | 23 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job